Nuveen Asset Management LLC Sells 23,924 Shares of PVH Corp. (NYSE:PVH)

Nuveen Asset Management LLC cut its stake in shares of PVH Corp. (NYSE:PVH) by 16.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 120,266 shares of the textile maker’s stock after selling 23,924 shares during the quarter. Nuveen Asset Management LLC owned 0.22% of PVH worth $12,718,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. grew its stake in shares of PVH by 78.5% during the fourth quarter. UMB Bank n.a. now owns 282 shares of the textile maker’s stock worth $30,000 after buying an additional 124 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of PVH by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 24,386 shares of the textile maker’s stock valued at $2,579,000 after acquiring an additional 150 shares in the last quarter. Envestnet Asset Management Inc. grew its position in PVH by 0.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 30,711 shares of the textile maker’s stock worth $3,248,000 after acquiring an additional 152 shares during the last quarter. Assetmark Inc. increased its holdings in PVH by 11.8% in the 4th quarter. Assetmark Inc. now owns 1,451 shares of the textile maker’s stock worth $153,000 after purchasing an additional 153 shares in the last quarter. Finally, Signaturefd LLC raised its position in PVH by 11.0% in the fourth quarter. Signaturefd LLC now owns 1,569 shares of the textile maker’s stock valued at $166,000 after purchasing an additional 156 shares during the last quarter. 97.25% of the stock is owned by institutional investors.

PVH Stock Down 1.5%

Shares of PVH stock opened at $82.11 on Tuesday. The stock’s 50-day moving average is $72.39 and its 200 day moving average is $85.68. PVH Corp. has a one year low of $59.28 and a one year high of $124.68. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 6.69, a PEG ratio of 0.77 and a beta of 1.81. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.69.

PVH (NYSE:PVH) last posted its quarterly earnings results on Monday, March 31st. The textile maker reported $3.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.08. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.34 billion. PVH had a return on equity of 13.66% and a net margin of 8.13%. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.72 EPS. Equities research analysts anticipate that PVH Corp. will post 11.67 EPS for the current year.

PVH Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.0375 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $0.15 annualized dividend and a dividend yield of 0.18%. PVH’s dividend payout ratio is currently 1.42%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PVH. Wells Fargo & Company upped their price objective on PVH from $85.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 14th. UBS Group decreased their price target on shares of PVH from $172.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. The Goldman Sachs Group cut their price target on shares of PVH from $128.00 to $109.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Jefferies Financial Group raised shares of PVH from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $70.00 to $105.00 in a research note on Wednesday, May 14th. Finally, Wall Street Zen raised PVH from a “hold” rating to a “buy” rating in a research report on Thursday, May 15th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, PVH currently has an average rating of “Moderate Buy” and a consensus target price of $106.47.

About PVH

PVH Corp. operates as an apparel company in the United States and internationally. The company operates through Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, and Heritage Brands Wholesale segments. It designs and markets men's, women's, and children's branded apparel, footwear and accessories, underwear, sleepwear, outerwear, home furnishings, luggage, dresses, suits and swimwear, activewear, sportswear, socks and accessories, outerwear, golf products, footwear, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, jeans wear, performance apparel, intimate apparel, dress shirts, handbags, fragrance, small leather goods, and other related products; and men's and boy's tailored clothing products, duvets, pillows, mattress pads and toppers, and feather beds.